Stocks News

Cochin Shipyard bags contract worth Rs 10,000 crore from The Indian Navy

On February 23, the share price of Cochin Shipyard recorded a hike of over 9 percent intraday on BSE.

Moreover, this happened after the Indian Navy declared it as the lowest bidder for construction of six missiles.

The estimated value of the order is worth Rs 10,000 crore.

However, the finalization of the contract will be confirmed after the company has satisfactorily completed all the necessary formalities.

Further, the company’s scrip saw expansion in volume exceeding 10.16 times on Tuesday.

The stock was trading with volumes of 180,014 shares against it’s five day average of 13,917 shares as per data.

The company announced that the Board of Directors of Cochin Shipyard Limited have declared a second interim dividend of Rs 4.00 per equity share.

This was decided at the company’s meeting held on February 12, 2021 for the financial year ended March 31, 2021.

The consolidated net profit of the company witnessed a 32 percent hike at Rs 223.73 crore during the quarter ended December.

This is in comparison to it’s previous year’s net profit of Rs 169.81 crore during the same quarter.

The total expenses however reduced to Rs 461.45 crore during the quarter ended December.

However, this is against it’s previous year’s total expenses amounting to Rs 722.12 crore in the same quarter.

At present, it’s total income during the quarter declined to Rs 763.43 crore from Rs 950.34 crore in the last year quarter.


Check all the recent news updates and share market updates


 

Get 90% Discount on Brokerage Now! Open Demat Account